Collateral Loans

Collateral secured loans allow you to use your Torrington Savings Bank passbook account, certificate of deposit, or stock certificate as collateral for a loan.

Passbook loans: You may borrow up to 90% of the balance in a regular savings account. The rate on the loan will be 3% above the current rate of interest you earn on the account.

Certificate of Deposit Loans: You may borrow up to 90% of the balance in a certificate of deposit account. The rate on the loan will be 3% above the current rate of interest you earn on the account.

Stock loans: You may borrow up to 50% of the market value of the stocks held as collateral. The stocks must be registered in the borrower's name and be included on the list of marginable securities published by the Federal Reserve Bank. The rate of interest paid on stock collateral loans is 3% above the current prime interest rate.

For further information contact a branch manager or a customer service representative at 860-496-2152.

Commercial Real Estate Loans

Torrington Savings Bank will consider modest commercial real estate loans to borrowers with an established banking relationship with Torrington Savings Bank. Competitive rates, terms and conditions are available for properties in our lending area at a 70% loan-to-value. Our lending area includes the communities of Torrington, Avon, Barkhamsted, Bethlehem, Burlington, Canaan, Canton, Colebrook, Cornwall, East Granby, Falls Village, Farmington, Goshen, Granby, Hartland, Harwinton, Kent, Litchfield, Morris, New Hartford, New Milford, Norfolk, North Canaan, Plymouth, Roxbury, Salisbury, Sharon, Simsbury, Thomaston, Warren, Washington, Watertown, Winchester and Woodbury.

To discuss your particular needs contact our commercial mortgage expert, Jeffrey M. Geddes, Senior Vice President, at 860-496-2152.